Aquafil Spa · MIL:ECNL
Aquafil Spa — Investor Presentation (November 2024)
29 slides from Aquafil Spa's investor presentation, November 2024
Slide 1: Investor Presentation
Investor Presentation [ECNL:IM] November, 2024
Slide 2: Disclaimer
Disclaimer Please read carefully the Prospectus available on the Company's website www.aquafil.com/it/investor-relations/aumento-di-capitale/ before investing - Prima dell'adesione leggere attentamente il Prospetto Informativo disponibile sul sito della Società alla pagina www.aquafil.com/it/investo
Slide 3: Aquafil rights issue – Key terms
Aquafil rights issue – Key terms ~€ 40 mln rights issue with a commitment from Aquafin Holding of ~60% Issuer • Aquafil S.p.A. Offering type • Capital Increase with pre-emptive rights Offering size • ~€ 40 mln Subscription • € 1.10 per ordinary and B shares (~15.5% discount to TERP at announcement)
Slide 4: Current shareholding structure
Current shareholding structure Total share capital (ordinary and B shares)1 Voting rights (ordinary shares and B shares)1 Market 29,6% Market Including No. ~24.9 mln voting Including No. ~8.3 mln of B 39,2% shares (~16.2% of share capital) rights of B shares (~36.8% of voting rights) Aquafin Aquafin
Slide 5: Agenda
Agenda • Aquafil Rights Issue • Overview of Aquafil • 2024 – 2026 Industrial Plan • Closing Remarks Appendix 5
Slide 6: A global leading player in Nylon pioneer of circularity
A global leading player in Nylon pioneer of circularity Founded in 1965 in Arco (Trento, Italy), Aquafil has been a leading player in Nylon for over 50 years, leading the way on sustainability and circular economy, which remain at the core of its values and development strategy Bulk Continuous Fibre
Slide 7: Aquafil business model
Aquafil business model Proprietary technology and focus on high-end segments Business Model CLIENTS AND KEY RAW MATERIAL PRODUCTION DISTRIBUTION FINAL APPLICATION REFERENCE GEOGRAPHIES Bulk Continuous Fibre Standard Caprolactam Flooring solutions manufactures Selected application users (“BCF”) Nylon
Slide 8: Pioneer of circularity with a proprietary technology
Pioneer of circularity with a proprietary technology The ECONYL® regeneration system represents a key competitive advantage Aquafil has consolidated its reputation in the market with ECONYL®, a revolutionary Nylon made of 100% waste and 100% regenerable FINAL BRANDS THAT USE ECONYL® YARNS • Aquafil
Slide 9: Focus on R&D and innovation
Focus on R&D and innovation Longstanding track-record and significant new initiatives already undergoing Aquafil can leverage on a dedicated R&D Team – R&D at the Core of the Company and ...coupled with several further initiatives already ongoing at the base of a longstanding track-record of innovat
Slide 10: Recent market trends and competitive arena
Recent market trends and competitive arena USA EUROPE ASIA PACIFIC • Improvement in the • Consolidation trend in BCF already • Expected market rebound in macroeconomic scenario: cut of seen in 2Q 2024 also thanks to residential and constant growth in interest rates with impact on rising demand for h
Slide 11: Historical results and actions implemented by management
Historical results and actions implemented by management Resiliency in a challenging market environment Historical financials 555 570 684 572 • 9M2024: 549 545 437 416 • Management implemented several measures consistent with 2024–2026 Industrial Plan, Revenues focusing on personnel streamlining and
Slide 12: ESG at the heart of Aquafil strategy
ESG at the heart of Aquafil strategy Our top ESG achievements Our main ESG targets 1st ranked company Generate 60% of our fibers revenues from ECONYL® and • Environmental Policy approval in the "Textiles" • Scope 3 emissions reporting other regenerated fibers subindustry • Development, validation an
Slide 13: Agenda
Agenda • Aquafil Rights Issue • Overview of Aquafil • 2024 – 2026 Industrial Plan • Closing Remarks Appendix 13
Slide 14: 2024-2026 Industrial Plan guidelines
2024-2026 Industrial Plan guidelines New 2024 – 2026 Industrial Plan designed to: Support an increase in revenues and Further strengthen the Group’s competitive margins across all business areas (BCF, NTF, Accelerate the growth path, also through Polymers) mainly in US and Asia-Pacific positioning i
Slide 15: Strategic initiatives designed to achieve our targets by 2026
Strategic initiatives designed to achieve our targets by 2026 Growth in recycled and Significant growth New initiatives will focus on Further development and ECONYL® branded products opportunities due to the partnerships with selected 1 growth of recycled and increasing focus by the customers to red
Slide 16: 2024 – 2026 Industrial Plan: expected volumes by business lines
2024 – 2026 Industrial Plan: expected volumes by business lines BCF - Carpet yarn NTF - Textile yarn Polymers ‘24E vs ’23A Substantially stable Substantially stable +40% ‘25E vs ‘24E From +7% to +9% From +15% to +18% From +45% to +55% ‘26E vs ‘25E From +2% to +4% From +4% to +7% From 1% to +2% CAGR
Slide 17: 2024 – 2026 targets
2024 – 2026 targets Overview of industrial plan projections1 Target 60% of revenues generated by fibers from ECONYL® branded products 600-623 625-647 • Revenues expected to increase between FY24 and FY26, assuming gradual 545 Revenues recovery in volumes, driven by US and Asia, and no significant ch
Slide 18: Current market environment offers significant consolidation M&A opportunities
Current market environment offers significant consolidation M&A opportunities Potential opportunities will be evaluated taking a disciplined approach Aquafil can benefit from a longstanding M&A track-record... Acquisition of Special Polymers and Aquafil sells its Engineering Aquafil strengthens its
Slide 19: Agenda
Agenda • Aquafil Rights Issue • Overview of Aquafil • 2024 – 2026 Industrial Plan • Closing Remarks Appendix 19
Slide 20: Closing Remarks
Closing Remarks Leading global player in Nylon, Fibers and Polymers ECONYL® regeneration system represents a key differentiating factor in a market increasingly focused on sustainability and environmental responsibility 2024-2026 Industrial Plan foresees a recovery in volumes and a focus on optimiza
Slide 21: Agenda
Agenda • Aquafil Rights Issue • Overview of Aquafil • 2024 – 2026 Industrial Plan • Closing Remarks Appendix 21
Slide 22: Consolidated Income Statement
Consolidated Income Statement CONSOLIDATED INCOME STATEMENT At September of wich non- At September of wich non- December of wich non- December of wich non- December of wich non- €/000 30, 2024 recurrent 30, 2023 recurrent 2023 recurrent 2022 recurrent 2021 recurrent Revenue 416.075 - 442.229 1 571.8
Slide 23: Consolidated Balance Sheet (1/2)
Consolidated Balance Sheet (1/2) CONSOLIDATED BALANCE SHEET At September 30, At September 30, At December 31, At December 31, At December 31, €/000 2024 2023 2023 2022 2021 Intangible Assets 16.008 20.253 19.080 21.596 23.551 Goodwill 14.906 15.753 15.103 15.647 14.735 Tangible Assets 235.696 242.95
Slide 24: Consolidated Balance Sheet (2/2)
Consolidated Balance Sheet (2/2) CONSOLIDATED BALANCE SHEET At September 30, At September 30, At December 31, At December 31, At December 31, €/000 2024 2023 2023 2022 2021 Share Capital 49.722 49.722 49.722 49.722 49.722 Reserves 73.761 108.476 101.379 96.528 91.708 Group Net Profit for the year (8
Slide 25: Consolidated Cash Flow Statement (1/2)
Consolidated Cash Flow Statement (1/2) CASH FLOW STATEMENT At September 30, At September 30, At December 31, At December 31, At December 31, €/000 2024 2023 2023 2022 2021 Operation Activities Net Profit (Including Portion Attr. to Minority ) (8.779) (17.068) (25.849) 29.151 10.670 of which related
Slide 26: Consolidated Cash Flow Statement (2/2)
Consolidated Cash Flow Statement (2/2) CASH FLOW STATEMENT At September 30, At September 30, At December 31, At December 31, At December 31, €/000 2024 2023 2023 2022 2021 Investing activities Investment in Tangible Assets (14.591) (22.260) (29.157) (34.864) (34.632) Disposal of Tangible Assets 129
Slide 27: Group Structure
Group Structure 27 Aquafil S.p.A. Tessilquattro S.p.A. ([T] 100% Aquafil U.S.A. Inc. (USA) 100% ‘Aquafil Carpet Recycling (ACR) #1 Inc. (USA) 100% Aquafil Carpet Recycling (ACR) #2 Inc. (USA) 100% Aquat ina Private td J aquatt carpet (xyes Collection tte [usa z00% ‘Aquafil Synthetic Fibres and. Poly
Slide 28: Caprolactam price evolution
Caprolactam price evolution 3.750 3.500 3.250 3.000 2.750 2.500 2.250 2.000 1.750 1.500 1.250 1.000 €/ton 28
Slide 29: www.aquafil.com www.econyl.com www.dryarn.com
www.aquafil.com www.econyl.com www.dryarn.com